Today at 13:15 UTC: United States ADP Nonfarm Employment Change (Feb), Brent crude oil steady at $83.12

Brent crude is now trading at $83.12 per barrel after tracing out a steady $82.6 – $83.59 range today.

• United States ADP Nonfarm Employment Change (Feb) is next.

Earlier data releases related to ICE Brent crude – United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. United States 3-Year Note Auction came out at 4.635.

Technical analysis of Brent crude oil before macro data is released:

Brent Crude Oil's upper Bollinger Band® is at $86.74 and the lower is $81.06. Brent crude oil is approaching key support, around 60 cents away from $82.52. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite muted price action in Brent crude, chart analysis indicates it is positioned for a bullish run in the short term.

Coming up for Brent crude oil — United States ADP Nonfarm Employment Change (Feb) is scheduled for today at 13:15 UTC. Today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 395,000 from the preceding figure of 1.17 million.

As the markets get ready for more data to be released — Natural Gas is down to $2.63, losing 6 cents, after closing at $2.69 in the preceding trading session.

Brent crude reached a significant high of $129.12 around a year ago but has lost 35.49% since then.